0001065645-09-000013 Sample Contracts

SECURITY AGREEMENT
Security Agreement • March 31st, 2009 • American Community Properties Trust • Land subdividers & developers (no cemeteries)

THIS SECURITY AGREEMENT (the "Agreement") made the 22nd day of January, 2009, by and between GLENEAGLES APARTMENTS, LLC, a Delaware limited liability company, with offices at 222 Smallwood Village Center, St. Charles, Maryland 20602 (referred to in this Agreement as the "Debtor"), and CAPMARK FINANCE INC., a California corporation, having an office and place of business at 116 Welsh Road, Horsham, Pennsylvania 19044 (referred to in this Agreement as the "Secured Party").

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CONSULTING AGREEMENT
Consulting Agreement • March 31st, 2009 • American Community Properties Trust • Land subdividers & developers (no cemeteries) • Delaware

THIS CONSULTING AGREEMENT (“Agreement”) is made and entered into this 2nd day of December 2008, by and between American Rental Management Company, a Delaware corporation (the “Company”), and Edwin L. Kelly (the “Consultant”).

DEED OF TRUST
Deed of Trust • March 31st, 2009 • American Community Properties Trust • Land subdividers & developers (no cemeteries)

THIS DEED OF TRUST (“Deed of Trust”), made and entered into this 22nd day of January, in the year 2009, by and between GLENEAGLES APARTMENTS, LLC, a limited liability company organized and existing under the laws of the State of Delaware, having its principal place of business at 222 Smallwood Village Center, St. Charles, Maryland 20602 hereinafter referred to as the ‘‘Grantor,” and David A. Barsky, Esq., of Washington, D.C., as Trustee, hereinafter referred to as the “Trustee,” and CAPMARK FINANCE INC., a California corporation, with its principal office in Horsham, Pennsylvania, and hereinafter referred to as the “Beneficiary” (which designations shall include the respective successors and assigns and the successors in the interest of the several parties).

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